Global Behavioral/Mental Health Market is poised to witness a healthy CAGR of 25% by 2026 - Rising Cases of Mental Health Disorders & Improved Healthcare IT Infrastructure in Major Countries

In the recent years, the healthcare market has witnessed an array of several service providers which offer software for behavioral and mental health practices: EHR, teletherapy, scheduling, client engagement, billing, and digital therapeutics to prevent, manage and treat medical disorders.

Growing Demand for Behavioral/Mental Health Market Solutions

With lockdowns implemented, social distancing compulsory, and widespread apprehension - Co vid-19 pandemic had placed a huge burden on managed healthcare and especially on neurological and psychiatric disease care.

The application of personal digital devices-smartphones, fitness trackers, tablets, and the launch of digital solutions have ensured that the digital mental health tools were accessed more frequently and by a huge demographic of patients. Major Benefits such as therapeutic approaches to support positive behavioral change on a large scale, anywhere, anytime accessibility, on-demand help without waiting lines, convenience, and ease of utilization were the major factors which fueled its market demand.

Behavioral/Mental Health Market Tools for Children and Teenagers Poised to Open New Growth Opportunities

The mental well-being of children and teenagers has been an area of concern provided there are very few pediatric mental health specialists in both developed and developing countries. Long waiting time and an increasing number of kids being sent to the emergency room during mental health situations has been a long-standing concern. To address these concerns, many digital health companies have entered the behavioral/mental health market.

"Limited number of pediatric mental health specialists has been a major issue in United States. Virtual health care has grown significantly during the Covid-19 pandemic and this further exacerbated the mental health crisis amongst the children and youth. As a result, several companies are now targeting the behavioral health needs of children and teenagers."-Senior Director, Virtual Behavioral Health Care Provider, USA

Efficient Growth Strategies Adopted by Leading Market Players to Establish Their Strong Foothold in Behavioral/Mental Health Market

The behavioral/mental health market is a promising but a competitive market marked by the presence of both established and new players. All leading players operating in the global behavioral/mental health market have adopted both organic and inorganic growth strategies such as new product launches, technological advancments, collaborations and acquisitions to garner a higher market share.

For instance,
• In April 2022, Talkspace, the leading service provider of virtual behavioral health services, launched new product suite - Talkspace Self-Guided, a suite of offerings for employers designed to help executives, managers, and teams prioritize and build emotional intelligence (EQ) and mental wellness in and out of the workplace.
• In Jan 2022, CloudMD Software & Services Inc. acquired MindBeacon Holdings Inc., one of North America's leading providers of digital mental health care.

The behavioral/mental health market is an emerging market and is expected to gain further momentum in the upcoming years due to the rising cases of mental health disorders, conducive funding environment, improving healthcare IT infrastructure and aggressive organic and inorganic growth strategies followed by the top market players.

Competitive Landscape Analysis: Behavioral/Mental Health Market

The global behavioral/mental health market is marked by the presence of established market players such as Akili, Pear Therapeutics, Advanced Data Systems, AdvancedMD, Credible, Lyra Health, Spring Health, Brightline, Little Otter, among others.

Get Detailed Insights on Behavioral/Mental Health Market with a Sample Redacted Deck @ https://meditechinsights.com/digital-behavioral-mental-health-market/

Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
https://meditechinsights.com/

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.